Spanish Broadcasting System (SBS) reported Q2 2025 results, with net revenue falling 14% to $34.4 million from $40.0 million year-over-year, driven by weaker advertising demand, market uncertainty, and January wildfires in Los Angeles.
Operating expenses dropped 10% to $25.9 million due to reduced costs in special events, programming, compensation, and promotions. Station Operating Income (SOI), a non-GAAP measure, fell 23% to $8.5 million from $11.1 million, and Adjusted OIBDA declined 30% to $6.2 million from $8.9 million. The net loss widened to $4.4 million from $346,000 in the prior year.
For the first half of 2025, net revenue decreased 16% to $62.0 million, with Adjusted OIBDA down 44% to $7.1 million. Despite challenges, SBS advanced its strategic plan, cutting costs while investing in growth initiatives. Digital platforms showed strength, with LaMusica’s unique users up 18% and session length averaging 55 minutes. YouTube views surged 140% sequentially, and WSKQ-FM, the top-streamed U.S. station, set new records. KROI-FM in Houston, acquired in late 2024, gained traction among Hispanic listeners, and WSUN-FM in Tampa saw ratings growth from its new morning show.
SBS continued to exit television, selling its Puerto Rico stations (WVEO, WTCV, WVOZ-TV) and equipment for $5.7 million on August 15, after a failed $64 million deal with Voz Media. Chairman and CEO Raul Alarcon emphasized SBS’s strong audience shares and expanding digital presence, including the LaMusicaTV FAST channel on Roku.